Miscellaneous Leadership Stuff

these are just a few miscellaneous things that don't really fit into any other sets... these will mostly help with the multiple choice.

STUDY

PLAY

everything has a cost, people choose for good reasons, incentives influence people's choices, economic systems influence people's choices, people gain from voluntary trade, people's choices influence the value of a good or service, people's choices may have un-intended consequences, choices made today affect what happens tomorrow

name the 8 principles of economic thinking

Land, labor, capital, entrepreneurship

the four economic resources

Market Economy

type of economy where there is individual choice, voluntary exchange, and competition

Command Economy

an economy with strong government control and the government owns some or all factors of production

Mixed Economy

an economic system where there are elements of both systems

Capitalism

a type of mixed economy where the consumers decide what is made, there is private ownership of the factors of production, the goal is a profit, and the government takes a limited role

Socialism

type of mixed economy where government owns all factors of production, and the gov't uses powers to distribute resources equally

Communism

type of mixed economy where government owns all means of production and distribution, and the gov't dictates all parts of life.

Reference Group

any group whose attitude you adopt

In-Group

a group that separates themself from other groups through similar dress, view themselves positivley and others negativley, and compete with out-groups

Contrived Group

a group created for a specific purpose

Social Group

a group that provides safety and solidarity, a combination of primary and secondary group

Group

a set of two or more people who interact on a basis of shared expectations who possess some degree of common identification